A vision for full store fronts is the goal of a new tax relief proposal for small and new businesses in Oakland.
The ballot measure introduced by councilmembers Janani Ramachandran and Zac Unger aims to boost Oakland’s business climate.
“The more attractive we make Oakland again, the more people will want to come here and stay here,” Ramachandran said. “People, businesses, new industries, which will create new jobs, opportunities, as well as revenue for the city.”
The plan uses $3 million already set aside by the city. Under the proposal, small businesses making under $1 million in sales would pay no gross receipts tax starting in 2027. New businesses would also get up to $1 million in gross receipts tax eliminated.
“Oakland must make it easier for businesses to not only survive but to thrive and to grow,” Mayor Barbara Lee said. “Businesses create good paying jobs. That’s the other part of this, it’s about shared prosperity.”
If approved, the tax holiday would last one year and could be extended up to three more. The city council must approve the measure before it goes to voters in June.